VNET Group (NASDAQ:VNET) Stock Price Up 6% – Should You Buy?

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) shares rose 6% during mid-day trading on Tuesday . The stock traded as high as $11.85 and last traded at $11.5290. Approximately 1,943,468 shares traded hands during trading, a decline of 68% from the average daily volume of 6,030,953 shares. The stock had previously closed at $10.88.

Wall Street Analyst Weigh In

VNET has been the subject of several recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of VNET Group in a research report on Monday, December 29th. Wall Street Zen lowered shares of VNET Group from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, VNET Group currently has a consensus rating of “Moderate Buy” and an average target price of $16.30.

VNET Group Trading Up 4.1%

The firm has a market capitalization of $3.05 billion, a PE ratio of -37.75, a P/E/G ratio of 0.84 and a beta of -0.02. The company’s fifty day simple moving average is $9.31 and its 200-day simple moving average is $9.10. The company has a debt-to-equity ratio of 2.88, a current ratio of 0.90 and a quick ratio of 0.90.

VNET Group (NASDAQ:VNET) last issued its earnings results on Thursday, November 20th. The information technology services provider reported $0.02 EPS for the quarter, hitting analysts’ consensus estimates of $0.02. The company had revenue of $362.63 million for the quarter, compared to the consensus estimate of $335.87 million. VNET Group had a negative net margin of 5.99% and a negative return on equity of 3.42%. As a group, sell-side analysts expect that VNET Group, Inc. – Unsponsored ADR will post -0.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On VNET Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC purchased a new position in VNET Group in the second quarter valued at about $34,000. Public Employees Retirement System of Ohio raised its position in shares of VNET Group by 16.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 14,600 shares of the information technology services provider’s stock worth $101,000 after buying an additional 2,100 shares during the period. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in shares of VNET Group in the second quarter worth $194,000. Envestnet Asset Management Inc. raised its stake in shares of VNET Group by 21.5% during the second quarter. Envestnet Asset Management Inc. now owns 244,888 shares of the information technology services provider’s stock valued at $1,690,000 after purchasing an additional 43,392 shares during the period. Finally, Aperture Investors LLC acquired a new position in shares of VNET Group in the second quarter worth about $1,259,000. 72.83% of the stock is owned by hedge funds and other institutional investors.

About VNET Group

VNET Group, Inc (NASDAQ: VNET) is a leading carrier-neutral internet data center (IDC) services provider in China. Established in 1999 and headquartered in Beijing, the company delivers a full spectrum of infrastructure solutions that support the growing digital economy. Its core offerings include data center colocation, managed hosting, network connectivity, and disaster recovery services designed to meet the performance and reliability requirements of enterprise and internet content customers.

The company’s product portfolio spans private cloud, public cloud and hybrid cloud deployments, enabling clients to scale computing resources on demand.